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    Trade245

    • South Africa South Africa
    • 2-5 years
    • Suspicious Regulatory License
    • MT4/5 full license
    • Regional Brokers
    • Suspicious Overrun
    Open Account
    WikiFX Score
    Comparison

    The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!

    VPS Standard

    No restriction on the broker account. Provide service support by WikiFX

    • Single Core

    • 1G

    • 40G

    Get it for free

    Broker Information

    Company Name

    Red Pine Capital (PTY) LTD.

    Phone of the company

    270878288245

    Company website
    https://www.trade245.com/
    Twitter

    --

    Customer Service Email Address

    support@trade245.com

    Company address

    --

    Pyramid scheme complaint
    Expose

    Check whenever you want

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    Warning: Low score, please stay away! 3
    2022.05.28

    It has been verified that this broker currently has no valid regulatory, please be aware of the risk!

    The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months, please be aware of the risk and the potential scam!

    • Account
    Comparison
    Trading software
    • Weekend Trader
    • Zero Spread
    • Cent
    • Swap Free
    • No Bonus
    • Bonus Rescue
    • Bonus 100
    • Benchmark --
    • Maximum Leverage 1:500
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    • Minimum spread From 1 pips
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    • Marketing Strategy
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    Brokers Louis Jnr Tshakoane – Undercover Trillionaire?

    The last installation of the top 4 most controversial forex traders in South Africa is Louis Jnr Tshakoane, the most followed forex trader in the country, many know of or atleast heard of this man, as most of us know at age of 15 Loius Jnr wrote a letter to Sir Richard Branson and managed to secure sponsorship from the business mogul in the form of gym equipment and a cash donation, totaling around 250 000 USD, this was in an effort to help disenfranchised youth, which is significant seeing that Louis Jnr actually came from a wealthy family.

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    Brokers TOP FOREX SCAMS TO LOOK OUT FOR IN SOUTH AFRICA

    In my last article I gave an insiders perspective on two signals groups and also a not so attractive broker of which I personally invested money in the form of a joining fee and trading capital and actively traded the live markets using these below average services, if you have read my last article why I refer to this endeavor as below average, unprofitable and super frustrating.

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    TOP FOREX SCAMS TO LOOK OUT FOR IN SOUTH AFRICA
    Brokers EASTER MEETS RAMADAN: HIGH PRICES, 15.92% INFLATION, NIGERIANS SPEND 56% ON FOOD

    The global rise in food prices is weighing on emerging and developing economies, and Nigerians are now spending more than 56% of their total income on food, as food inflation in the country approaches 18% after printing 17.20% year on year in March 2022, according to current National Bureau of Statistics (NBS) figures.

    WikiFX
    2022/4/20 4:21:02
    EASTER MEETS RAMADAN: HIGH PRICES, 15.92% INFLATION, NIGERIANS SPEND 56% ON FOOD
    Brokers A MASSIVE EMPLOYMENT CUT IS ON THE HORIZON AS THE DOLLAR HITS N590 AND FOREX SCARCITY STRIKES MORE

    Even as the parallel market exchange rate approaches N590/$1, the country's ongoing foreign exchange scarcity has worsened.

    WikiFX
    2022/4/15 10:09:02
     A MASSIVE EMPLOYMENT CUT IS ON THE HORIZON AS THE DOLLAR HITS N590 AND FOREX SCARCITY STRIKES MORE

    Trade245

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    Financial Sector  Conduct  Authority

    Financial Sector Conduct Authority (FSCA)

    The Financial Sector Conduct Authority (FSCA) is the market conduct regulator of financial institutions, that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures. The FSCA is responsible for market conduct regulation and supervision. FSCA aims to enhance and support the efficiency and integrity of financial markets and to protect financial customers by promoting their fair treatment by financial institutions, as well as providing financial customers with financial education. The FSCA will further assist in maintaining financial stability.

    • Licensed Institution :

      RED PINE CAPITAL (PTY) LTD

      Effective Date :

      2015-12-08
    • Email Address of Licensed Institution :

      --

      License Type:

      No Sharing
    • Website of Licensed Institution :

      --

      Expiry Date :

      --
    • Address of Licensed Institution :

      FLOOR 9,ATRIUM ON 5TH 5TH STREET SANDTON,GAUTENG 2196

      Phone Number of Licensed Institution :

      010 9003184
    • Licensed Institution Certified Documents :

      Annex1 Annex2 Annex3

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    Trade245

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    WikiFX·pyramid scheme complaint
    1  Know about pyramid scheme  >
    2  Pyramid scheme complaint   >
    3  Done
    1. What is pyramid scheme complaint?
    With the continuous development of the forex market, more and more Ponzi schemes have poured in, and global investors have suffered greatly. WikiFX has set up a complaint channel in order to ensure the funds security and prevent more scams. We sincerely invite foreign exchange investors to report such fraud platforms and jointly purify the market environment!
    2. 10 Features of Pyramid Scheme
    High Profit Promised Level Marketing Required Multi-level Marketing False Advertising Master Trader Awarded 'Datuk' Brainwashing-style training Fake Regulation Copycat of other platforms Marketing & PR campaigns
    Report immediately
    Report This Platform
    Trade245
    * Contact number
    0086
    *Enter your phone number
    *Reporting Reasons

    *Enter your reason
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    You can check the real-time processing progress in 'User Center-My Release-Ponzi Scheme'

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    Trade245 · Company summary

      General Information & Regulation

      Trade245 is a product of Red Pine Capital (PTY) LTD, Johannesburg, South Africa, with company number 2014/220311/07 an authorized financial services provider, licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, with FSP No. 46044. Trade245 (Red Pine Capital (Pty)Ltd) acts as intermediary between the investor and Market Financials Limited, the counterparty to the contract for difference purchased by the Investor via Trade245, authorised and regulated by the Financial Services Authority of Seychelles with Security Dealer License no. SD006. All payments via Skrill and Neteller are processed for Red Pine Capital (Pty) Ltd.

      Market Instruments

      Tradable financial instruments available on the Trade245 platform including forex curreny pairs, commodities, indices, stocks. Actually, many other brokers could even offers richer instruments, like metals, cryptos, and options, etc.

      Minimum Deposit

      In terms of minimum initial deposit, the requirement is $100. Although this seems reasonable and proper amount, given the fact that this broker is an unregulated one, traders should stay away from it, anyway.

      Leverage

      In terms of trading leverage available on the Trade245 platform, Trade245 offers up to 1:500 in leverage. Since leverage can amplify gains as well as losses. Please be warned that trading with levels that high is risky.

      Spreads & Commissions

      Trade245 offers variable spreads. Clients of Trade245 are allegedly offered spreads starting from 1 pip on majors. However, this information cannot be verified through the MT4 demo account. Besides, commissions are charged on certain account types at $10 per lot.

      Trading Platform Available

      Trade245 says to support both the MetaTrader4 and MetaTrader5. However, you can only download a MT4 from but Trade245s website, and you cannot test it in demo environment.

      Deposit & Withdrawal

      With regard to payment methods available, Trade245 advertises working with bank wire, cards, Skrill, as well as Bitcoin.

      Crypto network fees:

      BTC – Deposit 0.00025; Withdrawal 0.0005

      ETH – Deposit 0.005; Withdrawal 0.0085

      USDT – Deposit 15; Withdrawal 15

      XRP – Deposit 0.02; Withdrawal 0.02

      BCH – Deposit 0.001; Withdrawal 0.001

      LTC – Deposit 0.001; Withdrawal 0.001

      Customer Service

      The Trade245 customer service support can be reached through email (support@trade245.com), telephone (+27(0) 87828 8245). Unfortunately, live chat is not available.

    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.